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Despite the U.S. economy’s surprising third-quarter growth, small business owners continue to face challenges, as the NFIB Small Business Optimism Index remained below its 50-year average for the 22nd consecutive month in October. NFIB highlighted ongoing concerns about labor quality, hiring difficulties, stagnant sales growth and rising costs, particularly in the face of inflation. While some signs of potential relief like moderating inflation emerge, the outlook remains gloomy as small business owners grapple with uncertainties about the economy and high financing costs.
To read more about the report and its potential impact, read Inc.’s coverage here.
By Rebecca Meiser
Contributor, Commerce + Communities Today and Small Business Center
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
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